How economic factors affect industrial relations?

How economic factors affect industrial relations?

Economic factors – These include factors such as system (capitalist, socialist, communist, mixed economy), economic conditions and policies, source of labour supply, nature and composition of workforce, relative status of labour market, level and structure of wages, dearness allowance, incentives, price level.

How does economy affect employee relations?

Economic and Political Factors The amount of money that is available for wages, benefits and training can affect strategic employee relations. This aspect influences employee morale and job satisfaction and the labor market as a whole.

What led to industrial relations?

The advent of industrial relations in the United States In response to the economic and social crisis of the Great Depression, the U.S. Congress and the Roosevelt administration enacted a series of laws granting workers the right to organize into unions and to engage in collective bargaining with employers.

Is industrial relation is a part of social economic and political system?

Thus, the industrial relations can be viewed as a “complex system” formed by the interaction of the industry, the government and the labour which, are monitored by the existing and emerging social, economic, institutional and technological factors.

How social factors affect industrial relations?

Under social factors items like social group (like caste or joint family) creed, social values, norms, social status (high or low) — influenced industrial relations in the early stages of industrialisation. They gave rise to relationship as master and servant, haves and have-nots, high caste and low caste, etc.

What is the role of government in industrial relations?

As Guardian of Industrial Peace. As Regulator of Industrial Actions. As Trouble-shooter in Resolving High-stake Industrial Disputes. As “Arbitrator” or “Referee” for Unfair Termination/Dismissal Appeals and Disputes on Non-re-employment.

How might poor industrial relations affect the business?

Definition: the relationship between management and staff. A bad industrial relations climate leads to: Low morale/poor motivation. “sick days”.

What is the difference between industrial relations and employee relations?

Employee Relations can further be defined as an organization’s efforts to create and maintain a positive relationship with its employee. Therefore, Industrial Relations is the relationship that exist between an employer and the employees collectively through their Union.

What are the main aspects of industrial relations?

The main aspects of industrial relations can be identified as follows:

• Promotion and development of healthy labour — management relations.
• Maintenance of industrial peace and avoidance of industrial strife. ADVERTISEMENTS:
• Development and growth of industrial democracy.

How did industrial relations evolve?

The prominent instances to mention are passing of Indian Trade Unions (Amendment) Act, 1947, Industrial Employment (Standing Orders) Act 1946, Bombay Industrial Relations Act, 1946, and Industrial Disputes Act, 1947 and split in AITUC and formation of INTUC.

Why is industrial relations important?

It improves morale of the work force: Good industrial relations, built-in mutual cooperation and common agreed approach motivate one to contribute one’s best, result in higher productivity and hence income, give more job satisfaction and help improve the morale of the workers. …

Why industrial relations are so important in any organization?

The most important benefit of industrial relations is that it ensures uninterrupted production. Reduced industrial dispute, industrial unrest, strike, lock outs can be avoided through good industrial relation. This ensures smooth running of the organization and continuous production.

What are the 8 factors that affect industrial relations?

Factors Affecting Industrial Relations – 8 Important Factors: Institutional, Economic, Social, Technological, Psychological, Political, Enterprise-Related and Global Factors The industrial relations system of an organisation is influenced by a variety of factors. A few important are:

What is industrial relations in management?

Industrial relations deals with human behaviour and management of personnel in an organizational setup. The various factors that influence the relationship between the administration and the employees in an organization are as follows:

What is the impact of globalisation on industrial relations?

Global factors Globalisation has a contradictory impact on industrial relations. On the one hand, it is accelerating economic interdependence between countries on an intra regional and inter regional basis and encouraging similar business approaches of individual companies in competitive markets.

What are the good and bad history of Industrial Relations?

Every industry moves ahead with its good or bad history of industrial relations. Harmonious relationship between the workers and management marks the good history of the enterprise. While strikes and lockout characterise the bad history of the business. History, good or bad, established once will take time to change.